An appeal will be forthcoming, says Mr. Thiessen, the company's $506,000-a-year president and chief executive officer....
+US$800-million has been spent on Pebble in exploration and development expenses since a Cominco Ltd. geologist discovered the deposit in 1987.
Northern Dynasty Minerals Ltd. (NDM), which fell 54 cents to 51 cents on 35.09 million shares yesterday, lost another 5.5 cents to 45.5 cents today on 13.49 million shares as the blowback continues from Wednesday's decision by the U.S. government to deny the company's request for permits that would have allowed the mammoth Pebble project in Alaska to proceed.
An appeal will be forthcoming, says Mr. Thiessen, the company's $506,000-a-year president and chief executive officer, against the "politically motivated" decision that was "fundamentally unsupported by the administrative record" developed during the environmental impact process.
The denial is yet another roadblock for a project that has already consumed over $800-million (U.S.) in exploration and development expenses since a Cominco Ltd. geologist discovered the deposit in 1987.
See the whole note from Stockwatch on the release here:
The full press release can be seen here: https://www.northerndynastyminerals.com/site/assets/files/4880/november_25-_2020.pdf
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